SAN FRANCISCO--(BUSINESS WIRE)--FUTR
Corporation today announced it has acquired the assets of ECMC
Servicing Corporation, a provider of private student loan-servicing
solutions, from ECMC Holdings Corporation, a subsidiary of ECMC
Group, Inc.

Under terms of the transaction which closed on July 1, 2016, FUTR has
taken ownership of ECMC Servicing’s core assets, including its customer
base comprised of prominent U.S. banks, credit unions and post-secondary
educational institutions as well as its intellectual property. In
addition, FUTR has appointed key employees from ECMC Servicing to its
executive and management team.

“FUTR brings a unique combination of higher education finance and
technology industry domain expertise together with a sophisticated
technology platform to create an improved model for student loan
servicing – one that will offer far greater value to both lenders and
their borrowers alike,” said Rix Kramlich, founder and CEO of FUTR. “Our
management team is experienced, capable and focused on creating positive
and much-needed change within the higher education finance marketplace.”

“We are excited to be combining our decades of experience and team of
servicing professionals with FUTR’s technology leadership to change the
way borrowers and lenders experience student loan servicing,” said Lance
Teinert, president of servicing operations at FUTR and formerly
president of ECMC Servicing. “I am looking forward to partnering with
the financial community I have worked closely with over the course of my
27-year career to deliver a new level of value within this market.”

ECMC Group is a nonprofit organization dedicated to providing tools,
information, financial and debt management services, career schools and
job placement services to help students succeed in achieving their
higher education goals, making informed money management and student
loan decisions, and successfully repaying their student loan obligations.

About FUTR

FUTR is a privately held and venture-backed higher education finance
provider headquartered in San Francisco, California with an operational
hub in Bryan, Texas. FUTR is focused on bringing together modern
technology and quality service to provide new levels of transparency and
insight that borrowers need to optimally manage their financial future.
We extend the same level of commitment to value, innovation and service
to our lender partners, who likewise can leverage FUTR’s advanced
technology and services to support their most demanding business needs.